BoxRec

Boxerbeetle wrote:

Mark Lloyd wrote:The McGuigans don't seem to be doing a good job of running their company and for the last 2 years have had the first stage of winding up petitions made in respect of Cyclone Promotions. http://www.bizdb.co.uk/filings/ec/04/ec ... 52a69e.pdf Basically they can't get their accounts in on time and this is especially embarrassing as it happened two years in a row and they are such a small company that they qualify for a total exemption so the accounts really shouldn't be continuously late. This is the accounting equivalent of having your star boxer turn up for a final eliminator 1lb over weight - no professional would allow it.

As for ownership it is highly likely that the McGuigans own 100% of the company (for what it's worth). Stephen Clifford offers "nominee" services in which he acts as a front for the ultimate shareholder and acts on their instructions whilst ensuring discretion as to the final owner. This is cute considering the company is worth -£545k. The use of Nominee services is unusual in this case and signals that the owner is the McGuigans and most likely 100% Barry or a 50/50 arrangement between him and Sandra. It is worth noting that Cyclone Promotions UK is 50/50 owned between Barry and Sandra.

Carl won't have owned any of the company but may have possibly had a profit share arrangement. This is a moot point anyway as it was him who was earning all the money and paying all the wages for the extended McGuigan family.

Use of a nominee company isn't at all unusual, particularly when a high profile person(s) is involved in an ownership structure.

Mark Lloyd wrote:

Boxerbeetle wrote:

Mark Lloyd wrote:The McGuigans don't seem to be doing a good job of running their company and for the last 2 years have had the first stage of winding up petitions made in respect of Cyclone Promotions. http://www.bizdb.co.uk/filings/ec/04/ec ... 52a69e.pdf Basically they can't get their accounts in on time and this is especially embarrassing as it happened two years in a row and they are such a small company that they qualify for a total exemption so the accounts really shouldn't be continuously late. This is the accounting equivalent of having your star boxer turn up for a final eliminator 1lb over weight - no professional would allow it.

As for ownership it is highly likely that the McGuigans own 100% of the company (for what it's worth). Stephen Clifford offers "nominee" services in which he acts as a front for the ultimate shareholder and acts on their instructions whilst ensuring discretion as to the final owner. This is cute considering the company is worth -£545k. The use of Nominee services is unusual in this case and signals that the owner is the McGuigans and most likely 100% Barry or a 50/50 arrangement between him and Sandra. It is worth noting that Cyclone Promotions UK is 50/50 owned between Barry and Sandra.

Carl won't have owned any of the company but may have possibly had a profit share arrangement. This is a moot point anyway as it was him who was earning all the money and paying all the wages for the extended McGuigan family.

Use of a nominee company isn't at all unusual, particularly when a high profile person(s) is involved in an ownership structure.

The use of a nominee company in this instance is unusual as the whole business is based upon who owns it e.g Barry McGuigan. He is trading off his name which is inextricably linked to Cyclone...it was his nickname after all. To publicly trade off the name and leverage his legacy yet hide the fact that he owns it is indeed unusual.

Boxerbeetle wrote:

Mark Lloyd wrote:

Boxerbeetle wrote:
Use of a nominee company isn't at all unusual, particularly when a high profile person(s) is involved in an ownership structure.

The use of a nominee company in this instance is unusual as the whole business is based upon who owns it e.g Barry McGuigan. He is trading off his name which is inextricably linked to Cyclone...it was his nickname after all. To publicly trade off the name and leverage his legacy yet hide the fact that he owns it is indeed unusual.

Not really. For instance, McGuigan may not own the shares in their own right - he could own them via an offshore trust, or via a Cayman holding company. He'd be unlikely to want either of those scenarios as public knowledge for presumably obvious reasons, hence using a nominee company as intermediary.

Horse wrote:

handsofstone wrote:Frampton mentioned after the Gutierrez call off that he had a bad camp and he wasn't really himself, maybe motivation??

How could he get properly motivated for such a shite fight?

MarkMcBurney wrote:Certainly something odd going on with the accounting for Cyclone; their latest accounts up to 29th June 2016 include the revenue from the Quigg fight in February of last year, and the balance sheet shows only £277k of 'available funds' made up of debtors and cash in the bank. They also show a loss for the year of £545k!

Very odd. It owes, at 29th June last year, over £800k to creditors.

Arsenal49 wrote:

MarkMcBurney wrote:Certainly something odd going on with the accounting for Cyclone; their latest accounts up to 29th June 2016 include the revenue from the Quigg fight in February of last year, and the balance sheet shows only £277k of 'available funds' made up of debtors and cash in the bank. They also show a loss for the year of £545k!

Very odd. It owes, at 29th June last year, over £800k to creditors.

How did u find that out

manchester-mexican wrote:Saying that Frampton will def not go with Hearn but has split from Cyclone and will sign a 4 fight deal in the States with Haymon taking control.

billy nelson wrote:I don't think Carl should go anywhere and I don't beleive he will, the grass isn't greener on the other side, stay were it's worked and resolve any issues like men, don't let the dogs of the sport sway him

manchester-mexican wrote:Saying that Frampton will def not go with Hearn but has split from Cyclone and will sign a 4 fight deal in the States with Haymon taking control.

lurkyshaka wrote:

billy nelson wrote:I don't think Carl should go anywhere and I don't beleive he will, the grass isn't greener on the other side, stay were it's worked and resolve any issues like men, don't let the dogs of the sport sway him

The grass is greener in this case....literally greener, as in he could earn with Hearn.
He might not like Hearn, but he can feature in big fights with Matchroom.

Cyclone have failed to deliver the money that Frampton's talent warrants. He needs major fights and Cyclone aren't bringing those to him.

The only genuine concern with leaving Cyclone is his relationship with Shane, which has seemed to be largely successful. Would leaving Cyclone also mean a change of trainer? That perhaps is more of an issue. Then again there are other quality trainers around and a change is as good as a rest sometimes.

brian13 wrote:

manchester-mexican wrote:Saying that Frampton will def not go with Hearn but has split from Cyclone and will sign a 4 fight deal in the States with Haymon taking control.

Hearn would be the front runner in my eyes for Frampton. Frampton is a PPV fighter immediately or might have one fight on Sky Sports before going on box office. He also has a big following resulting in a big gate for his fights. Hearn would get him the big fights and would be able to get a lot of names over to fight him.

billy nelson wrote:

lurkyshaka wrote:

billy nelson wrote:I don't think Carl should go anywhere and I don't beleive he will, the grass isn't greener on the other side, stay were it's worked and resolve any issues like men, don't let the dogs of the sport sway him

The grass is greener in this case....literally greener, as in he could earn with Hearn.
He might not like Hearn, but he can feature in big fights with Matchroom.

Cyclone have failed to deliver the money that Frampton's talent warrants. He needs major fights and Cyclone aren't bringing those to him.

The only genuine concern with leaving Cyclone is his relationship with Shane, which has seemed to be largely successful. Would leaving Cyclone also mean a change of trainer? That perhaps is more of an issue. Then again there are other quality trainers around and a change is as good as a rest sometimes.

dont for a second beleive all you read about boxers earnings, with regards to top fights was santa cruiz not top fights the mc guigans delivered there!

billy nelson wrote:

brian13 wrote:

manchester-mexican wrote:Saying that Frampton will def not go with Hearn but has split from Cyclone and will sign a 4 fight deal in the States with Haymon taking control.

Hearn would be the front runner in my eyes for Frampton. Frampton is a PPV fighter immediately or might have one fight on Sky Sports before going on box office. He also has a big following resulting in a big gate for his fights. Hearn would get him the big fights and would be able to get a lot of names over to fight him.

Barry McGuigan gets him big fights and more importantly there's a bond there

billy nelson wrote:I don't think Carl should go anywhere and I don't beleive he will, the grass isn't greener on the other side, stay were it's worked and resolve any issues like men, don't let the dogs of the sport sway him

liamlion wrote:Rumour on twitter that Frampton is going all in with Haymon on four fight, multi-million pound/dollar deal. Haymon represents Selby and Santa Cruz also. Suggestion is that Shane has been dropped as trainer too.